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Sep 30, 2021
BigCommerce Q3 2021 Earnings Report
BigCommerce achieved record revenue growth and expanded its enterprise customer base.
Key Takeaways
BigCommerce reported a strong Q3 2021, achieving record revenue growth of 49% year-over-year, driven by success in serving larger enterprise customers and expanding into new markets. The acquisition of Feedonomics was also incorporated into the financial results.
Total revenue increased by 49% year-over-year to $59.3 million.
Total ARR reached $253.5 million, a 52% increase compared to the previous year.
Subscription revenue grew by 59% year-over-year to $42.1 million.
ARR from Enterprise Accounts increased by 78% year-over-year to $159.9 million.
Revenue by Segment
Forward Guidance
BigCommerce provided guidance for Q4 2021 and full year 2021.
Positive Outlook
- Q4 2021 total revenue is expected to be between $61.3 million and $61.7 million, representing a year-over-year growth rate of 42% to 43%.
- Full year 2021 total revenue is expected to be between $216.2 million and $216.6 million, representing a year-over-year growth rate of 42%.
- The company is focused on providing a flexible Open SaaS ecommerce platform.
- Multi-Storefront is expected to be fully available to all merchants in early 2022.
- Partnerships with TikTok, Google, CMA CGM Group, NewOxatis, Sezzle, Chargify, Amazon MCF, and Mercado Libre.
Challenges Ahead
- Q4 2021 non-GAAP operating loss is expected to be between ($8.0) million and ($9.2) million.
- Full year 2021 non-GAAP operating loss is expected to be between ($19.2) million and ($20.4) million.
- The financial outlook is based on assumptions that are subject to change and outside the company's control.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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